C.H. Guenther buys Utah bakery
C.H. Guenther & Son has acquired a Utah bakery, the San Antonio company’s first acquisition since it was purchased by a Chicago private equity firm earlier this year.
Guenther bought Cookietree Bakeries, a Salt Lake City producer of cookies, brownies and scones for restaurants, club stores and other retailers, for an undisclosed price.
Guenther announced the deal in a statement this morning. Cookietree, which has about 150 employees, will continue to operate under its brand at its existing production facility.
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The purchase increases Guenther’s work force to more than 3,000 employees in 21 food manufacturing locations in the U.S., Canada and Western Europe. The company is a supplier of gravies and sauces, seasonings, artisan breads, desserts and other products.
Chicago-based private equity firm PPC Partners and others bought Guenther in March. PPC was formed by Pritzker Group, whose principals include J.B. Pritzker, the Democratic candidate for governor in Illinois.
The deal ended more than 166 years of family owners at Guenther, the parent company of Pioneer Flour Mills and the historic Guenther House restaurant and museum. A shareholder who voted on the PPC purchase said it was valued at as much as $1.4 billion.
Guenther CEO and President Dale Tremblay said in an interview at the time of the deal that partnering with PPC would give Guenther “significantly more capital so that we can buy larger companies and expand our portfolio a lot quicker.”
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In the statement today, Tremblay called Cookietree “a market leader in the dessert space.”
“We look forward to leveraging our combined capabilities and providing value for customers for years to come,” he said.
PPC Partners principal Chris Trick said in the statement the Cookietree deal “demonstrates PPC’s commitment to (Guenther) and to partnering with industry leaders to deliver innovative products and excellent customer service.”
Patrick Danner is a staff writer in the San Antonio and Bexar County area. Read him on our free site, mySA.com, and on our subscriber site, ExpressNews.com. | email@example.com | Twitter: @AlamoPD